Niagen Bioscience (NASDAQ:NAGE) Posts Earnings Results, Meets Estimates

Niagen Bioscience (NASDAQ:NAGE) announced its earnings results on Tuesday. The company reported $0.01 earnings per share for the quarter, hitting the consensus estimate of $0.01, Zacks reports. Niagen Bioscience had a net margin of 14.29% and a return on equity of 22.68%.

Niagen Bioscience Stock Down 1.7%

Niagen Bioscience stock traded down $0.06 during trading on Tuesday, reaching $3.47. The stock had a trading volume of 1,028,252 shares, compared to its average volume of 979,671. Niagen Bioscience has a 52-week low of $3.12 and a 52-week high of $11.29. The stock has a market cap of $276.35 million, a PE ratio of 16.52 and a beta of 2.09. The business has a 50 day moving average price of $3.44 and a 200 day moving average price of $4.39.

Analysts Set New Price Targets

NAGE has been the subject of several recent research reports. Wall Street Zen cut shares of Niagen Bioscience from a “buy” rating to a “hold” rating in a research report on Saturday, April 25th. HC Wainwright reaffirmed a “buy” rating on shares of Niagen Bioscience in a research report on Wednesday, July 1st. Weiss Ratings reiterated a “hold (c)” rating on shares of Niagen Bioscience in a research note on Friday, July 17th. Canaccord Genuity Group decreased their target price on Niagen Bioscience from $13.00 to $10.00 and set a “buy” rating for the company in a report on Tuesday, May 5th. Finally, Freedom Capital raised Niagen Bioscience to a “strong-buy” rating in a research note on Monday, July 6th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating and one has assigned a Hold rating to the company’s stock. According to MarketBeat.com, Niagen Bioscience currently has an average rating of “Buy” and an average price target of $10.50.

Institutional Investors Weigh In On Niagen Bioscience

Hedge funds and other institutional investors have recently modified their holdings of the company. Corient Private Wealth LLC purchased a new stake in shares of Niagen Bioscience during the 4th quarter worth $200,000. Invesco Ltd. increased its holdings in Niagen Bioscience by 28.5% in the fourth quarter. Invesco Ltd. now owns 43,641 shares of the company’s stock valued at $278,000 after buying an additional 9,688 shares during the last quarter. SummitTX Capital L.P. acquired a new stake in Niagen Bioscience in the fourth quarter valued at $79,000. Tudor Investment Corp ET AL acquired a new stake in Niagen Bioscience in the fourth quarter valued at $360,000. Finally, Quadrature Capital Ltd purchased a new position in shares of Niagen Bioscience in the 4th quarter valued at about $104,000. 15.41% of the stock is currently owned by institutional investors and hedge funds.

Niagen Bioscience Company Profile

Niagen Bioscience, Inc is a global bioscience company, which engages in acquiring, developing, and commercializing proprietary-based ingredient technologies. It is pioneering research on nicotinamide adenine dinucleotide (NAD+). The company’s patent portfolio includes Nicotinamide Riboside (NR) and other NAD+ precursors, which are commercialized as the flagship ingredient Niagen. It operates through the following segments: Consumer Products, Ingredients, and Analytical Reference Standards and Services.